Petrobras aims to be one of top lube suppliers in Latin America

Guilherme de Paula, president of Brazil’s Petrobras, said the company is targeting to become one of the top lubricant manufacturers in Latin America, with a budget of R$300 million (US$ 147.9 million) for investments, of which R$160 million (US$ 78.9 million) would be invested in Brazil.
Presently, Petrobras has a 8.6% share in the 1.382 billion liter lubricants market which is worth some R$15 billlion (US$ 7.4 billion). Brazil already represents 14% of the world lubricants business.
Petrobras’ fiscal year ending 2012 showed a US$650 million profit, and plans for 12% growth in 2013, with profit doubling by 2017. Without its own distribution channels, however, Petrobras has to work out a way to be present in the 18,000 gasoline stations that are not affiliated with large distribution chains.
(April 11, 2013)